Chinese company plans to invest USD 450m in aquaculture park
Tuesday, December 03, 2019, 06:50 (GMT + 9)
Hainan Qinfu Foods Company Limited from China is looking for 5,000 acres of land to invest a total of USD 450m (about UGX 1.6 trillion) in a specialized aquaculture industrial park.
The company is the leading fishing enterprise that specializes in tilapia aquaculture in China.
Uganda controls much of Lake Victoria but also has other important lakes and water resources
In China, the company encompasses commercial fish fry production, production of fish feed, fish processing and marketing among others.
The company’s Chairman Qinfu Zhou told officials of the Uganda Investment Authority (UIA) last week that with support from the Uganda Embassy in China and the Chinese Ministry of Agriculture and Rural Affairs, the company is investing USD 450m in establishing the park in Uganda.
Officials of the Uganda Investment Authority (UIA) | Photo: pmldaily.com
The project aims to introduce Chinese management experience by establishing a high tech-industrial park through the development of production and providing broodstock.
It will also avail production technology including creating jobs for Ugandans especially through establishing an out-grower network.
Different species of Tilapia farm and processed by Hainan Qinfu Foods
The project will include fish ponds for tilapia farming, hatchery for breeding stock, tilapia processing plant and fish feed processing plant.
Others are collagen processing plants, fish feed processing plants, packaging material factory, and a fish farming out-grower scheme.
“Our aquaculture industrial park we intend to establish requires 2000ha (5000 acres) of land,” he pointed out.
Author: George Okello / PML Daily